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Dec 30, 2012
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what happens if we go over the fiscal cliff or get the type of deal the president is looking for? what we're talking about the top individual income-tax rate rising from 35% to 39.6%, the same tax rate we have before 2001. we do not need to be up at the 75% level. i would not advocate the go there but i think that is not really where we are and it is not where we need to be. host: we have a treat, who -- we have a tweet. they write -- host: the payroll tax is to% of income. -- guest: the payroll tax is 2% of income. the benefits of the payroll tax are larger or more important probably for low and middle income working families than they are for higher income families. that is certainly true. you have to remember that the payroll tax was a temporary provision. it actually was enacted at the end of 2010 to replace another temporary provision which was even more targeted toward low and middle income working families. i do not think anybody would dispute that at some point it needs to expire. the question is whether that time is now or whether it to go on a little bit longer. >> his r
what happens if we go over the fiscal cliff or get the type of deal the president is looking for? what we're talking about the top individual income-tax rate rising from 35% to 39.6%, the same tax rate we have before 2001. we do not need to be up at the 75% level. i would not advocate the go there but i think that is not really where we are and it is not where we need to be. host: we have a treat, who -- we have a tweet. they write -- host: the payroll tax is to% of income. -- guest: the...
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Nov 18, 2012
11/12
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. >> financial group said been repeatedly sending a message to congress to deal with the fiscal cliff for there will be consequences for the economy. do you have a sense of what it will specifically look like when the market gets concerned about what is going on congress? what are the repercussions? guest: you are seeing it already. post-election and now the fiscal cliff in the attention of the media and the broader public, you are seeing markets jittery. the stock market had down days for the last seven days. i think that is the marketplace expressing the uncertainty surrounding the fiscal collapse. according to the cbo, we know what the consequences will be. it is a non-partisan a respected organization that says if you don't solve the senate timely manner, we will have another recession in 2013 with negative gdp growth and they predict gdp growth will shrink by 2.9%. they said unemployment will go back up nationally over 9%. those are devastatingly bad consequences for the economy and our country. that is why we have to get this thing solved. >> january 1 is often treated as the de
. >> financial group said been repeatedly sending a message to congress to deal with the fiscal cliff for there will be consequences for the economy. do you have a sense of what it will specifically look like when the market gets concerned about what is going on congress? what are the repercussions? guest: you are seeing it already. post-election and now the fiscal cliff in the attention of the media and the broader public, you are seeing markets jittery. the stock market had down days...
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Nov 28, 2012
11/12
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has to deal with the fiscal cliff and there is not much room for mutual influence. if you don't have your house in order, you cannot speak to our problems. this does not covered in our media very much. >> thank you. let's go to illinois. we have the votes from the judges. >> can you guys hear me? what can parliament do to encourage [indiscernible] >> thank you. we will go right to the answers. >> you the unemployment, i spent a long time in entering what could we do to regain trust and growth. i made a proposal, and i repeat it. the european union, together with the states in which the youth unemployment is so crop -- so great, we should support those enterprises who employ young people with direct support financially for the enterprise, or with privilege and taxes. those are the two possibilities, but we should do it. the fight against unemployment, in my eyes, is the highest priority for the european union, or must be the highest priority for the european union. the international labor organization spoke about the lost generation in such countries. to lose a whole
has to deal with the fiscal cliff and there is not much room for mutual influence. if you don't have your house in order, you cannot speak to our problems. this does not covered in our media very much. >> thank you. let's go to illinois. we have the votes from the judges. >> can you guys hear me? what can parliament do to encourage [indiscernible] >> thank you. we will go right to the answers. >> you the unemployment, i spent a long time in entering what could we do to...
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Nov 18, 2012
11/12
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. >> beyond the fiscal cliff and the deficit deal, another thing coming up is the debt limit. the treasury department's as we will hit at the end of the year and should extended at the beginning of the year. should that be wrapped into a fiscal clipped deal? should be handled separately? guest: in light of the negotiations over the fiscal cliff we have seen, it would seem natural to include that as part of a larger deal and a larger discussion. it will have to be consulted -- confronted and address. it is a mathematical certainty but it puts pressure on policy makers to take some action. that could be a helpful tool that is not taken too far. >> when you are a candidate, you made some suggestions that maybe we should raise the debt ceiling but this time, you think it should be dealt with promptly and quickly? >> policy-makers need deadlines and pressures. if they don't have those things, things sort of drift. it is mathematically going to be hit. there's no question about that. this is a pressure point you can use but it's not bad to wrap it into the discussion about the fisca
. >> beyond the fiscal cliff and the deficit deal, another thing coming up is the debt limit. the treasury department's as we will hit at the end of the year and should extended at the beginning of the year. should that be wrapped into a fiscal clipped deal? should be handled separately? guest: in light of the negotiations over the fiscal cliff we have seen, it would seem natural to include that as part of a larger deal and a larger discussion. it will have to be consulted -- confronted...
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Dec 31, 2012
12/12
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"hours from the fiscal cliff, washington awaits deal." experts foresee a significant drag on the economy. negotiators keeping the bush-era tax cuts in place for all but the wealthiest americans. this is having a huge impact on what the markets want, which is some certainty. good morning, andy. caller: i was a volunteer rescue worker at the world trade center. i have two cancers. these guys want to mess with social security. there was a guy on yesterday. he was willing to pay a little more. he will still have over $200,000 left. he'll have maybe $20,000 last. it is ridiculous. we of the strong people. we are the ones that survive. they call us the little people. we are the strong people. host: it is 7:35 eastern time. the house will gavel and at 9:00 p.m. eastern time. we will have live coverage. the senate is coming in at 11:00 a.m. more from the senate floor yesterday. [video clip] >> i'm sure if president does not want a climate like this happen. i do not want on my watch for this to be the last thing that happens on my watch. i do not
"hours from the fiscal cliff, washington awaits deal." experts foresee a significant drag on the economy. negotiators keeping the bush-era tax cuts in place for all but the wealthiest americans. this is having a huge impact on what the markets want, which is some certainty. good morning, andy. caller: i was a volunteer rescue worker at the world trade center. i have two cancers. these guys want to mess with social security. there was a guy on yesterday. he was willing to pay a little...
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Dec 30, 2012
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part of the fiscal cliff deal is that there are heavy pentagon cuts in the sequester. the budget is the reason i think president obama would like to have leon panetta told on for a least another year. he is an experienced public official. he was budget director at one time. he has good relations on capitol hill, particularly with republicans. i think the administration would just as soon see him hang in there. he is at the age where he may want to return to california. host: stevens writes in on twitter that he would like to see howard dean offered a position. is there any talk about the howard dean appointment? guest: they do appreciate the job he did during the 2008 election for the party. i have not heard his name. talking with david jackson from "usa today." he also worked at "dallas morning news." i want to go to diane from arizona on the democratic line. caller: is there any possibility ben bernanke and tim geithner could both be replaced? from what i have read, they both have a background or some dealings with the basics and will street. my impression is they ar
part of the fiscal cliff deal is that there are heavy pentagon cuts in the sequester. the budget is the reason i think president obama would like to have leon panetta told on for a least another year. he is an experienced public official. he was budget director at one time. he has good relations on capitol hill, particularly with republicans. i think the administration would just as soon see him hang in there. he is at the age where he may want to return to california. host: stevens writes in...
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Dec 29, 2012
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we are talking about senate negotiating the fiscal cliff deal. the work they're still trying to get done. the first call comes from lee in florida. caller: i tried to call in yesterday, but everybody was concerned about this matter. let me give you a website that i have been e-mail in over 400 people. it is the website -- you go to search "cause of war." this is the biggest cover up by all of the politicians of their in washington, d.c., including both bushes and of mr. obama. host: and what does this have to do with the senate negotiating a fiscal of deal? caller: let me tell you something. if you go to the website listed on the left and upper side, united states -- each tax coming out of each state is going towards the or. -- war. i believe all of these politicians, mayors, governors should take a half cut pay to pay down the deficit. host: we are going to move on to darwin on the line for independents. caller: it is like the pentelikon, back in 1968 i was even fighting with the pentagon over budgets. you always had to have everything kept the
we are talking about senate negotiating the fiscal cliff deal. the work they're still trying to get done. the first call comes from lee in florida. caller: i tried to call in yesterday, but everybody was concerned about this matter. let me give you a website that i have been e-mail in over 400 people. it is the website -- you go to search "cause of war." this is the biggest cover up by all of the politicians of their in washington, d.c., including both bushes and of mr. obama. host:...
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Nov 26, 2012
11/12
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that thee gop's say fiscal cliff deal is what defined grover norquist. let's hear congressman pete king of new york, a republican. he was on meet the press yesterday. [video clip] >> i agree entirely it. if i were in congress in 1941, i would have signed a declaration of war against japan. i would not attack japan today. the world has changed. i think everything should be on the table. i am opposed to tax increases. the speaker and majority leader and the president will be in a room trying to find the best package. we should not take ironclad positions. i would say john boehner has put together pretty good package and has been conciliatory in his language. host: that was yesterday. we are asking republicans what you think about indications from some republicans that they are willing to break their anti-tax pledge. here's the washington post story -- we will go to the phones to hear from kiev and, joining us from stafford, virginia. good morning. caller: good morning. if you listen very carefully, peter keane and even saxon chambliss and lindsey graham al
that thee gop's say fiscal cliff deal is what defined grover norquist. let's hear congressman pete king of new york, a republican. he was on meet the press yesterday. [video clip] >> i agree entirely it. if i were in congress in 1941, i would have signed a declaration of war against japan. i would not attack japan today. the world has changed. i think everything should be on the table. i am opposed to tax increases. the speaker and majority leader and the president will be in a room...
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Dec 10, 2012
12/12
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i do think getting over the fiscal cliff, the deal getting closer to balance the budget is still very important. i do hope because of the discussion that tax reform is something that is taken seriously for this year. i think that is well overdue. there is not time to do it before december 31. it will give businesses a lot of assurances that the government is paying attention to what they are saying. >> you should tell barack obama to find a jim baker. >> think about each time we have reached a crisis point in our country there's been an institutional response to it. we created a central bank. that has proved to be enormous for the past five years and important for years before that. post-world war ii, we create a system and the department of homeland security. i wonder if there's not an institutional -- >> some did not work as well as others. >> that is exactly right. it reflects our values and the focus of the government. we should have a department of homeland prosperity. we need somebody other than the president to think about american competitiveness. something we've taken for gra
i do think getting over the fiscal cliff, the deal getting closer to balance the budget is still very important. i do hope because of the discussion that tax reform is something that is taken seriously for this year. i think that is well overdue. there is not time to do it before december 31. it will give businesses a lot of assurances that the government is paying attention to what they are saying. >> you should tell barack obama to find a jim baker. >> think about each time we...
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Dec 21, 2012
12/12
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i believe the president has gone a great distance of the fiscal cliff to get to $400,000. he is dealing with the most vulnerable people, on social security, which i oppose. the president has tried. i hope this bill fails and we deal with the present in a responsible way and we enjoyed the physical and the fiscal cliff. >> the gentleman from california. >> i yield one minute to the great member from the appropriations committee, our hard-working friend from savannah, georgia. >> i thank the gentleman from california. the president cones this economy. he owns the high unemployment rate, the 23 million americans who are unemployed or underemployed. he owns the $750 billion annual deficit that he has had for them a years pay it is time for the president to step up. knowing this fiscal cliff was going to take place for well over a year now, the president has acted in good faith and put alternatives on the floor for us to vote on. what we are doing here today is moving a centralized negotiation back to where it should be come a decentralized basis so that house members can vote.
i believe the president has gone a great distance of the fiscal cliff to get to $400,000. he is dealing with the most vulnerable people, on social security, which i oppose. the president has tried. i hope this bill fails and we deal with the present in a responsible way and we enjoyed the physical and the fiscal cliff. >> the gentleman from california. >> i yield one minute to the great member from the appropriations committee, our hard-working friend from savannah, georgia....
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Dec 26, 2012
12/12
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he is returning to deal with economic matters, the fiscal cliff. if his death has been quietly talking with senate democrats are the christmas holiday to come up with a planned to avert or prevent the cliff. in the meantime, the senate does plan a session tomorrow. perhaps we will hear more about an agreement before the new year's deadline. the house is due tomorrow as well. we do not have an agenda and there. with the fiscal cliffhanging out there heading into the year 2013, do you have optimism or pessimism heading into the new ? you can also send in your comment via twitter, a post a comment on facebook, or write us an e-mail. the theme of optimism or lack of it is prevalent in the papers. wednesday with congress and the president heading back to washington. here is a headline on "usa today." in the wall street journal -- if the in "the washington post." we welcome your phone calls. we will get to them in a moment. we did find another piece at politico. there you have it in the papers this morning about people being optimistic or pessimistic abo
he is returning to deal with economic matters, the fiscal cliff. if his death has been quietly talking with senate democrats are the christmas holiday to come up with a planned to avert or prevent the cliff. in the meantime, the senate does plan a session tomorrow. perhaps we will hear more about an agreement before the new year's deadline. the house is due tomorrow as well. we do not have an agenda and there. with the fiscal cliffhanging out there heading into the year 2013, do you have...
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Dec 13, 2012
12/12
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cliff deal? >> yes, i think one of the reasons that the sequestration has gotten less attention is because the operating assumption -- more than assumption, i think the operating understanding of people involved in discussions is if you can resolve the other pieces then you can use the deficit reduction achieved from the other components, both the revenue component and the cut component to replace the sequester. whether you replace it on a 10 year basis which costs about $1 trillion or if you do it on a year basis which is about $110 billion. whatever we come up with as part of an agreement should certainly be able to offset at very least the first year of the sequester. onyou can't get an agreement all the issues, including the tax piece, could you come up with a smaller package to avoid the sequester? of course, that is possible but i don't know how likely. we could do that quickly if people were willing to put together a package of $110 billion in both revenue and cuts to replace the sequester
cliff deal? >> yes, i think one of the reasons that the sequestration has gotten less attention is because the operating assumption -- more than assumption, i think the operating understanding of people involved in discussions is if you can resolve the other pieces then you can use the deficit reduction achieved from the other components, both the revenue component and the cut component to replace the sequester. whether you replace it on a 10 year basis which costs about $1 trillion or if...
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Nov 14, 2012
11/12
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you know the fiscal cliff, you still have time to negotiate to lower the deal. the american people have spoken. host: thank you. nancy cook, does the president have a mandate to move us forward? guest: yes. i think he has america on his side. i think the administration thinks america is on his side. i think there is a sense that the democrats managed to maintain control of the senate pedometer democrats won at the white house. i think there's a feeling among democrats that they wanted these things, they should be able to put these things into place that they campaigned on which is largely taxing the rich. the house republicans feel like they also have a mandate, they kept their power, they kept the house and proposed something much different. and so the tricky thing is, everyone feels like to have a mandate moving forward. we will have to wait and see who ends up a bending and who does not. host: anything else you want to respond to? guest: i think one of the other interesting debates happening now is how important is it to deal with the deficit now obverses lat
you know the fiscal cliff, you still have time to negotiate to lower the deal. the american people have spoken. host: thank you. nancy cook, does the president have a mandate to move us forward? guest: yes. i think he has america on his side. i think the administration thinks america is on his side. i think there is a sense that the democrats managed to maintain control of the senate pedometer democrats won at the white house. i think there's a feeling among democrats that they wanted these...
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Nov 29, 2012
11/12
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host: "politioco" -- "polit ico" reports that a fiscal cliff deal is emerging. guest: i guess i am not sure what they were reporting. they're so many ideas out there. one of the reasons people think it will not happen until the last two weeks is because all these ideas have been developed. we know how much money they raised. is just a matter of negotiation. aides and thea's speaker boehner getting together and making a decision about it. host: we will continue this discussion next. coming up, a round table with william mcbride and seth hanlon. you can continue to collins. we believe the numbers and. we believe -- continue to call in. we will leave the lines open. we want to say thank you to cam dixon -- kim dixon of "reuters ." >> numbers in this hour show that the new jobless claims fell for a second week in a row. this after hurricane co sandy drove applications higher in the month. reports that the u.s. economy has been growing at a faster rate than had been estimated earlier. 2.7% annual rate from july through september. economists believe growth is slowing
host: "politioco" -- "polit ico" reports that a fiscal cliff deal is emerging. guest: i guess i am not sure what they were reporting. they're so many ideas out there. one of the reasons people think it will not happen until the last two weeks is because all these ideas have been developed. we know how much money they raised. is just a matter of negotiation. aides and thea's speaker boehner getting together and making a decision about it. host: we will continue this...
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Dec 17, 2012
12/12
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unions are pushing hard to preserve federal jobs in the fiscal cliff deal. more about that would jacqueline simon. later, you thought the election of 2012 was over. not yet. the electoral college is meeting at noon today to make another step forward in the process of getting the president into his second term. we will hear more from the american university professor james thurber. we will leave you with more comments from president obama last night in newtown, connecticut, at the interfaith prayer vigil. [video clip] >> we gather here in memory of 20 beautiful children and six remarkable adults. they lost their lives in a school that could of been any school, in a quiet town full of good and decent people. it could be any town in america. here in newtown, i have come to offer the love and prayers of the nation. i am very mindful that mere words cannot match the depth of your sorrow, nor can they heal your wounded hearts. i can only hope it helps for you to know that you are not alone in your grief, that our world too has been torn apart, that all across this
unions are pushing hard to preserve federal jobs in the fiscal cliff deal. more about that would jacqueline simon. later, you thought the election of 2012 was over. not yet. the electoral college is meeting at noon today to make another step forward in the process of getting the president into his second term. we will hear more from the american university professor james thurber. we will leave you with more comments from president obama last night in newtown, connecticut, at the interfaith...
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Dec 29, 2012
12/12
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guest: the house is back to deal with the fiscal cliff bill. the hope to supporters of the sandy supplemental is the house would do something on the fiscal cliff package and somehow they could use that as an opportunity to get the sandy bill through. the chance for the full supplemental to be passed before the end of the year, it will either be a smaller amount or they will not touch it at all. the senate will have to start over next year. host: raymond hernandez i need." >> they joined -- an unusual move they are working together as opposed to saying separately i am in new york, this is what i need, new jersey and connecticut are on their own. they have to make their own appeal. guest: you have a lot of the personalities representing the victims of sandy. they have pulled together effectively after the first few weeks after the storm. they have generally been pushing the same direction. the problem the victims of sandy have in new jersey and new york is there represented almost primarily by democrats. the house is run by republicans. democrats
guest: the house is back to deal with the fiscal cliff bill. the hope to supporters of the sandy supplemental is the house would do something on the fiscal cliff package and somehow they could use that as an opportunity to get the sandy bill through. the chance for the full supplemental to be passed before the end of the year, it will either be a smaller amount or they will not touch it at all. the senate will have to start over next year. host: raymond hernandez i need." >> they...
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Dec 13, 2012
12/12
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cliff deal? >> yes, i think one of the reasons that the sequestration has gotten less attention is because the operating assumption -- more than assumption, i think the operating understanding of people involved in discussions is if you can resolve the other pieces then you can use the deficit reduction achieved from the other components, both the revenue component and the cut component to replace the sequester. whether you replace it on a 10 year basis which costs about $1 trillion or if you do it on an year basis. which is about $110 billion. whatever we come up with as part of an agreement should certainly be able to offset at very least the first year of the sequester. if you can't get an agreement on all the issues, including the tax piece, could you come up with a smaller package to avoid the sequester? of course, that is possible but i don't know how likely. we could do that quickly if people were willing to put together a package of $110 billion in both revenue and cuts to replace the seq
cliff deal? >> yes, i think one of the reasons that the sequestration has gotten less attention is because the operating assumption -- more than assumption, i think the operating understanding of people involved in discussions is if you can resolve the other pieces then you can use the deficit reduction achieved from the other components, both the revenue component and the cut component to replace the sequester. whether you replace it on a 10 year basis which costs about $1 trillion or if...
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Nov 17, 2012
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i do not think they are prepared to deal with the fiscal cliff. before 1980, the tax system was balanced. at some point they changed the entire thing to benefit the wealthy. what they have done is taken the government workers and they have taken the private workers and made them make the stuff. they are selling stuff to the government workers that benefit the wealthy. the difference between the private sector is and what the government workers and what they make, that is the profit. that is what they do not want to balance the budget. the profit is in the interest of the wealthy. host: at the leadership level there is no interest in fixing these things because of the money involved? caller: yes, that is why you have mass poverty and food stamps. they cannot afford the things they are doing. pour and i worked really hard. a lot of people that are poor and work really hard and they are basically making stuff for the middle class or the government class. do you understand what i am saying? the new york times in their up --uwrite one of the people who
i do not think they are prepared to deal with the fiscal cliff. before 1980, the tax system was balanced. at some point they changed the entire thing to benefit the wealthy. what they have done is taken the government workers and they have taken the private workers and made them make the stuff. they are selling stuff to the government workers that benefit the wealthy. the difference between the private sector is and what the government workers and what they make, that is the profit. that is...
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Dec 23, 2012
12/12
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about the fiscal cliff, the numbers are on the screen. before going to the phones we want to show you a little bit about what speaker boehner had to say yesterday in his explanation as to why plan b legislation was pulled from the house vote. and he also added that he didn't think the members' refusal to vote on it was aimed at him personally. [video clip] >> there was a perception that the vote last night was going to increase taxes. i disagree with the characterization of that by, but it was out there and we had a number of our members who just didn't want to be perceived as having raised taxes. that was the real issue. you've all heard me say this and i've told my colleague this, you do the right things every day for the right reasons, the right things will happen. while we were not able to get the votes and avert 98.1% of the tax increases, i don't think -- they were not taking that out on me. they were dealing with the perception that somebody might accuse them of raising taxes. host: stephen dinan of the washington times, were the c
about the fiscal cliff, the numbers are on the screen. before going to the phones we want to show you a little bit about what speaker boehner had to say yesterday in his explanation as to why plan b legislation was pulled from the house vote. and he also added that he didn't think the members' refusal to vote on it was aimed at him personally. [video clip] >> there was a perception that the vote last night was going to increase taxes. i disagree with the characterization of that by, but...
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Nov 20, 2012
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whether or not they come together across party lines to deal with the fiscal cliff in a way that makes sense, whether they pass in immigration bill that makes sense for the country, those would be good signs. >> what was your immediate thinking about paul ryan and where did you end up thinking? >> my immediate was i cannot believe they're going to do this. just -- i -- axelrod always thought it was going to be paul ryan. >> he did not. he thought it was going to be tim pawlenty. >> ax looked at me and said they are going to pick paul ryan. at the time i thought to myself, they're going to spend a lot of time on defense on medicare, medicaid, all whole bunch of issues. >> they were not divisive issues. >> did you see how close florida was? i think they spent some time defending it. we obviously thought it was important. we air anded several labs -- aired several ads. i thought he added some youth and energy. they had a base concerns and he helped those. so i am not criticizing the pick i just think there were other -- >> you are. >> i was giving an assessment of the good and bad. >> was
whether or not they come together across party lines to deal with the fiscal cliff in a way that makes sense, whether they pass in immigration bill that makes sense for the country, those would be good signs. >> what was your immediate thinking about paul ryan and where did you end up thinking? >> my immediate was i cannot believe they're going to do this. just -- i -- axelrod always thought it was going to be paul ryan. >> he did not. he thought it was going to be tim...
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Oct 11, 2012
10/12
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how much are you planning for the fiscal cliff? >> that's the big deal. when the eurozone crisis happens, we spend $50-$100 million preparing. be visible club does not quite that because it is more critical double what the outcome will be. we have a fiscal cliff command center, a war room. we understand all of it and we will be prepared. jpmorgan will survive its fiscal cliff. i just think it's terrible policy to allow it to get close. is it bad that there's just so much gdp? there are always potential outcomes and i would defy anyone to ask for more. let's see. let's try to avoid that. it will not happen midnight on december 31st. they want to start to make decisions with the margin. don't hire, don't build, wait an d see. that's a recession. >> do you agree that it is less of a cliff and more of a slope? >> probably, yeah. conduct an omnibus deal. they will kick the can further down the road. how worried are you that the united states cannot do something on the order of $4 trillion over a decade kind of comprehensive deal. how worried are you that sudde
how much are you planning for the fiscal cliff? >> that's the big deal. when the eurozone crisis happens, we spend $50-$100 million preparing. be visible club does not quite that because it is more critical double what the outcome will be. we have a fiscal cliff command center, a war room. we understand all of it and we will be prepared. jpmorgan will survive its fiscal cliff. i just think it's terrible policy to allow it to get close. is it bad that there's just so much gdp? there are...
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Sep 18, 2012
09/12
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if somebody wants to sit down with all bus and figure out how it is we can avoid the fiscal cliff but deal with their budget problems in a responsible way, we are all for doing that. to simply say that all of the safety net programs are on the table but everything else is off, will not be acceptable. host: republican from louisville, ky -- caller: thank you for taking my call. i know the house does not compromise at all. 30 bills have been passed on jobs over to the senate or nothing has been done in the senate to comeback so that the house and senate can pass a jobs bill. but, the president wants his jobs bill passed - he did the joint house and senate speech. it was defeated in the senate with 47 republican votes. guest: i think we can see the inertia that happens in the senate because of the filibuster rules. in the house, the caller mentioned the american jobs act that the president put forward which would have created millions of jobs -- i think almost 1.5 million jobs in this economy and it has been deep sixed in the house of representatives and the american people need that con
if somebody wants to sit down with all bus and figure out how it is we can avoid the fiscal cliff but deal with their budget problems in a responsible way, we are all for doing that. to simply say that all of the safety net programs are on the table but everything else is off, will not be acceptable. host: republican from louisville, ky -- caller: thank you for taking my call. i know the house does not compromise at all. 30 bills have been passed on jobs over to the senate or nothing has been...
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Nov 28, 2012
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harry reid said republicans are holding up a deal on the so- called fiscal cliff. republicans said they do not understand why democrats are looking to change the rules on filibusters. this is 20 minutes. >> we had a meeting with the four leaders up here at the white house, it went very well. the problem was that was before thanksgiving. and since that time, there has been little progress with the republicans, which is a disappointment to me. we only have a couple of weeks to get something done. we have to get away from the happy talk and start talking about specific things. and one month taxes are set to rise for all americans. we passed in the -- we passed in the senate a piece of legislation to protect people making less than $250,000 a year. we have rejected on a bipartisan basis the republicans' efforts to extend the tax cuts for everybody. those are the two majors we have dealt with on the senate floor. if we fail to reach an agreement, the average middle- class family will see their taxes go up by 2,200 a year. as i have indicated, the senate has acted to sto
harry reid said republicans are holding up a deal on the so- called fiscal cliff. republicans said they do not understand why democrats are looking to change the rules on filibusters. this is 20 minutes. >> we had a meeting with the four leaders up here at the white house, it went very well. the problem was that was before thanksgiving. and since that time, there has been little progress with the republicans, which is a disappointment to me. we only have a couple of weeks to get something...
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Nov 18, 2012
11/12
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that something should be wrapped in a fiscal cliff deal or would you like to see that separately. given the fight of the last congress you hoping we have less drama this time around? >> hope so. in light of the negotiations over in the fiscal cliff it would seem common sense to just include that is a part of the larger deal and discussion. it is going to have to beacon fronted and addressed. a mathematical certainty it'll be hit but while it's uncomfortable it puts pressure on policy makes to take some action and that could be a helpful tool if it's not taken too far. >> you made some comments suggesting maybe that congress shouldn't raise the debt ceiling but this time around you think it should be dealt with promptly and quickly? >> policy makers need dead lines and pressure because if they don't have that, things drift and this is a fork in the road for them. lifting of the debt ceiling. again it's mathematically going to be hit. there's no question about that. is pressure point that you can use but i would advise them if i gave them advice to wrap it in the discussion about th
that something should be wrapped in a fiscal cliff deal or would you like to see that separately. given the fight of the last congress you hoping we have less drama this time around? >> hope so. in light of the negotiations over in the fiscal cliff it would seem common sense to just include that is a part of the larger deal and discussion. it is going to have to beacon fronted and addressed. a mathematical certainty it'll be hit but while it's uncomfortable it puts pressure on policy...
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Dec 12, 2012
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negotiations continue over the so-called looming fiscal cliff. yesterday president obama and john boehner spoke by phone. washington post reported however that they are still working on a deal and nothing is locked down yet. we will talk more about the fiscal cliff this morning on "the washington journal." what tax deductions would you give up as part of a solution to the deficit problems? here are the numbers to call. for republicans, 202-585-3881. for democrats, 202-585-3880. for independents, 202-585-3882. you can also find us online. send us a tweet, twitter.com/c- spanwj. find a son facebook and weigh in there. at journal@c- span.org. "the christian science monitor," asked what we would be willing to give up. "americans would be willing to give up the tax deduction for charitable giving over other popular tax breaks." host: let's take a look at the results of this poll. 25% said that they would be willing to give up the charitable giving tax deduction. almost the same amount said it would be willing to give up their deduction for state taxes
negotiations continue over the so-called looming fiscal cliff. yesterday president obama and john boehner spoke by phone. washington post reported however that they are still working on a deal and nothing is locked down yet. we will talk more about the fiscal cliff this morning on "the washington journal." what tax deductions would you give up as part of a solution to the deficit problems? here are the numbers to call. for republicans, 202-585-3881. for democrats, 202-585-3880. for...
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Nov 27, 2012
11/12
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with our fiscal challenges and dealing with the fiscal cliff. and that is a balanced approach. one that includes not just spending cuts, not just entitlement reforms and savings, but revenue. i think the data we've all seen could not be more conclusive. so this -- the president will continue to engage with the american people on this subject because we are all here, those of us in the administration and those who have been elected to congress, to serve the american people. so to suggest that we should, now that the election is over, stop talking to them about these vital issues is, i think, just bad advice. >> ambassador rice, beyond the president's feeling for her and how she conducted herself after the benghazi attack, what do they think about this whole back and forth about something that's a hypothetical nomination at this point? >> the president addressed this in his press conference i think quite well. and i can't improve upon that. >> you talk about her and the good work -- >> listen, about the prospect of proposing her for a different po
with our fiscal challenges and dealing with the fiscal cliff. and that is a balanced approach. one that includes not just spending cuts, not just entitlement reforms and savings, but revenue. i think the data we've all seen could not be more conclusive. so this -- the president will continue to engage with the american people on this subject because we are all here, those of us in the administration and those who have been elected to congress, to serve the american people. so to suggest that we...
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Dec 20, 2012
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let's avert a fiscal cliff and let's get onto the business of preventing the fiscal abyss which is the coming debt crisis that will not be resolved until we have real leadership and that unfortunately, is sorely lacking. i urge passage of this. let's prevent tax increases and down payment on spending and pass this bill. the speaker pro tempore: the previous question is ordered on the bill. the question is on engrossment and third reading of the bill. those in favor say aye. those opposed, no. in the opinion of the chair, the eyes have it, third reading. the clerk: a bill to provide for spending reductions. the speaker pro tempore: is the gentleman opposed to the bill? mr. van hollen: i am opposed. the clerk: mr. van hollen of maryland moves to recommit the bill to the committee on ways and means with instructions to report the same back to the house with the following amendment. at the end of the bill add the following, title 8. disclosure of costs and provider cuts under medicare, medicaid. section 801, disclosure of higher beneficiary costs and provider cusses under medicaid medicare
let's avert a fiscal cliff and let's get onto the business of preventing the fiscal abyss which is the coming debt crisis that will not be resolved until we have real leadership and that unfortunately, is sorely lacking. i urge passage of this. let's prevent tax increases and down payment on spending and pass this bill. the speaker pro tempore: the previous question is ordered on the bill. the question is on engrossment and third reading of the bill. those in favor say aye. those opposed, no....
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Oct 14, 2012
10/12
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we pass these to deal with the fiscal cliff situation. harry reid will not bring it up for a vote much less debate them. you are right. the president has been very clear that is not going to happen. if we get to a lame duck session and we have a republican congress and senate and republican in the white house, i think we would get better policy. let's wait. in tennessee in the early in 2007 when he had an affair with i was just over in the capitol building. he was presiding over the session. do you have any remarks about his conduct and whether you think he should be presiding over the chamber? >> that is a personal situation. that is something they will have to handle. >> do you think he should >> i just think anyone has called for that. it is something you have to take up with his family. they will make a decision on election day like the >> moving on to the next congress, and this past congress we have seen repeated instances where speaker bayer was able to pass a bill in the house of getting to the credit votes from his right wing. th
we pass these to deal with the fiscal cliff situation. harry reid will not bring it up for a vote much less debate them. you are right. the president has been very clear that is not going to happen. if we get to a lame duck session and we have a republican congress and senate and republican in the white house, i think we would get better policy. let's wait. in tennessee in the early in 2007 when he had an affair with i was just over in the capitol building. he was presiding over the session. do...
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Dec 24, 2012
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i do not believe this congress is going to be able to deal with the fiscal cliff. the next congress, unless they reform senate filibuster rules and also -- and you can tell me whether this is a dream come true -- what if nancy pelosi and john boehner kind of got together and nancy pelosi told boehner he could bring the votes for his speakership and then maybe together could isolate the tea party section of his group and take away some of the radical left of her group and bring the moderates together, support him for speakership. me, being a democrat, i would not get everything i want, but the republicans would get everything they wanted. by the time re-election came up they would have seen there was a lot of progress made and maybe they could not run primaries on those guys that decided to run to the middle with policy they laid out together. host: thank you for the call. guest: so many things. basically, you are assuming that john boehner would be elected speaker in a democratic house. it is not likely that they would give him their votes. it is far more likely, q
i do not believe this congress is going to be able to deal with the fiscal cliff. the next congress, unless they reform senate filibuster rules and also -- and you can tell me whether this is a dream come true -- what if nancy pelosi and john boehner kind of got together and nancy pelosi told boehner he could bring the votes for his speakership and then maybe together could isolate the tea party section of his group and take away some of the radical left of her group and bring the moderates...
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Dec 11, 2012
12/12
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so, that is one of the many things in the fiscal cliff discussions that we also have to deal with. the social security payroll tax holiday that we have had for two years -- they have to decide whether to extend that by december 31, and there is also the issue of the alternative minimum tax, which is designed to make sure that everybody pays something in income tax, especially among the wealthy who might use deductions to bring their tax payments down to zero. the problem is the alternative minimum tax has been affecting more and more middle-class people, and the irs in particular is eager for congress to take a stand on patching up the minimum tax by december 31 because mostly they have to program their computers. host: the amt was part of our series on the different aspects of the fiscal cliff talks. you can go to our web site to find more details. today, the discussion is about domestic spending. if sequestration happens at the end of the month, and we are talking about $500 billion in domestic spending across the board, right, charles clark? guest: $500 billion over 10 years. $3
so, that is one of the many things in the fiscal cliff discussions that we also have to deal with. the social security payroll tax holiday that we have had for two years -- they have to decide whether to extend that by december 31, and there is also the issue of the alternative minimum tax, which is designed to make sure that everybody pays something in income tax, especially among the wealthy who might use deductions to bring their tax payments down to zero. the problem is the alternative...
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Aug 23, 2012
08/12
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cliff. if they pass that tax cut tomorrow, that would go significant ways toward alleviating concerns about the fiscal cliff. >> given everybody campaigning, the absence of a former -- formal study -- >> he told you earlier this week, he recognizes the fact that because congress will be in town for less than two weeks between now and the election, significant progress with congress may not be all that likely. there are things that congress absolutely must do, steps to ensure that we pass the continuing resolution and the government continues to function, with no threats of shutdowns, and other things they can do. what they can also do -- some work has been done -- they could pass the tax cut in a moment's notice. the house could do it when they come back and demonstrate to the american people that there is a serious of purpose here when it comes to recognizing the need to address some of the issues represented by the cbo report yesterday. >> any ideas on after the election, if we could addre
cliff. if they pass that tax cut tomorrow, that would go significant ways toward alleviating concerns about the fiscal cliff. >> given everybody campaigning, the absence of a former -- formal study -- >> he told you earlier this week, he recognizes the fact that because congress will be in town for less than two weeks between now and the election, significant progress with congress may not be all that likely. there are things that congress absolutely must do, steps to ensure that we...
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Dec 19, 2012
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cliff deal. what we continue to see in the white house is the very thing that would hurt the economy and hurt jobs. he has no interest in dealing with the federal spending. tenement programs. we need spending solutions. that is where the president has been absent. we hope he will come to the table and engage to reform our entitlement programs so we can save and protect medicare for social security and future generations and put tax policies in place through tax reform that will promote economic growth and job creation in the country. that is what this ought to be about the president right now seems to be obsessed with raising taxes on small businesses and people across the country. >> the deficit numbers confirm exactly what the senator has said. we have a spending problem in this country. we are on the course for a fifth year in a row with a deficit of over $1 trillion. this will be the fifth year. the numbers that came out for the first two months show we spend about 4% more than last year, $40
cliff deal. what we continue to see in the white house is the very thing that would hurt the economy and hurt jobs. he has no interest in dealing with the federal spending. tenement programs. we need spending solutions. that is where the president has been absent. we hope he will come to the table and engage to reform our entitlement programs so we can save and protect medicare for social security and future generations and put tax policies in place through tax reform that will promote economic...
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Dec 10, 2012
12/12
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i do think getting over the fiscal cliff, the deal getting closer to balance the budget is still very important. i do hope because of the discussion that tax reform is something that is taken seriously for this year. i think that is well overdue. there is not time to do it before december 31. it will give businesses a lot of assurances that the government is paying attention to what they are saying. >> you should tell barack obama to find a jim baker. >> think about each time we have reached a crisis point in our anntry there's been institutional response to tit. we created a central bank. that has proved to be enormous for the past five years and important for years before that. post-world war ii, we create a system and the department of homeland security. i wonder if there's not an institutional -- >> some did not work as well as others. >> that is exactly right. it reflects our values and the focus of the government'. we should have a department of homeland prosperity. we need somebody other than the aboutent to think american competitiveness. something we've taken for granted beca
i do think getting over the fiscal cliff, the deal getting closer to balance the budget is still very important. i do hope because of the discussion that tax reform is something that is taken seriously for this year. i think that is well overdue. there is not time to do it before december 31. it will give businesses a lot of assurances that the government is paying attention to what they are saying. >> you should tell barack obama to find a jim baker. >> think about each time we...
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Dec 18, 2012
12/12
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cliff deal. and so what we continue to see from the white house is the very thing that would hurt the economy, hurt jobs which ultimately is what we all want to see happen is to see the economy grow and expand again. and he has no interest whatsoever in dealing with the entitlement programs. so we need spending solutions. that's where the president has been absent. we hope that he'll come to the table and engage on what we can do to rein in out-of-control federal spending, to reform our entitlement programs so that we can save and protect medicare and social security for future generations, and actually put tax policies in place through tax reform that will promote economic growth and job creation in this country. that's what this ought to be about, and right now the president seems obsessed with raising taxes on small businesses and people across this country. >> and the deficit numbers that just came out confirm exactly what senator thune has said, that we in this country have a spending proble
cliff deal. and so what we continue to see from the white house is the very thing that would hurt the economy, hurt jobs which ultimately is what we all want to see happen is to see the economy grow and expand again. and he has no interest whatsoever in dealing with the entitlement programs. so we need spending solutions. that's where the president has been absent. we hope that he'll come to the table and engage on what we can do to rein in out-of-control federal spending, to reform our...
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Aug 15, 2012
08/12
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host: your take on whether wall street thinks this is the right way to deal with the looming fiscal cliff? guest: i personally did not agree with his position on that. there are other republican leaders who took that the way and i do not pretend to speak for wall street, although i used to work there and i have covered that place for many years. i do not -- losing our credit rating was not a good thing. i would like to see that not happen again. defering obligations for a couple of days was not something i favored. i expressed my disapproval on that very subject. host: let us get some calls in here. patrick is on the independent line from florida. patrick, you are on with larry kudlow. caller: larry kudlow is a typical gas on c-span. you say he is an economic expert. he had a political appointee job for a president who raised taxes, triple the national debt. he talks about \ big government. fdic has gone to $250,000. he talks about medical reform. we elected a governor down here that -- his company backed out been corrupted by the government because it was charging $1.5 billion fines for
host: your take on whether wall street thinks this is the right way to deal with the looming fiscal cliff? guest: i personally did not agree with his position on that. there are other republican leaders who took that the way and i do not pretend to speak for wall street, although i used to work there and i have covered that place for many years. i do not -- losing our credit rating was not a good thing. i would like to see that not happen again. defering obligations for a couple of days was not...
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Oct 9, 2012
10/12
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with the fiscal cliff, the impending tax increases, and the sequestration tax cuts. the u.s. house will double in for what we expect as a pro forma session. no legislative business, but we expect possible comments from democrats try to bring the house back into legislative session. that will be coming up momentarily. also live today, president obama in ohio, speaking at ohio state university in columbus this afternoon. we have live coverage of that at 5:00 p.m. eastern. mr. romney is in iowa today and there is a campaign rally later tonight in ohio. so, u.s. house coverage coming up momentarily. our road to the white house coverage later today at 5:00 p.m. eastern. later this week, the vice presidential debates. we will have that live for you thursday night with coverage beginning at 7:00 eastern. let's take a now to the house f. the speaker pro tempore: the house will be in order. the chair lays before the house a communication from the speaker. the clerk: the speaker's room, washington, d.c., october 9, twelve. i hereby appoint the honorable andy harris to act as s
with the fiscal cliff, the impending tax increases, and the sequestration tax cuts. the u.s. house will double in for what we expect as a pro forma session. no legislative business, but we expect possible comments from democrats try to bring the house back into legislative session. that will be coming up momentarily. also live today, president obama in ohio, speaking at ohio state university in columbus this afternoon. we have live coverage of that at 5:00 p.m. eastern. mr. romney is in iowa...
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Dec 9, 2012
12/12
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the fiscal cliff. the house returned to business this week on tuesday at 2:00 p.m. eastern. they will be appointing members to work with the senate on defense programs. live coverage when the house returns here and c-span. the synod -- the senate returns on monday. they will also consider a nomination for assistant secretary of housing and development. live coverage when they return on c-span2. >> joining as and vermont is governor peter shumlin. thank you for being with us. >> it is great to be with you. thank you for being with us. let me begin with some news of the weekend. that is former republican gov. charlie crist is not a democrat. do you welcome him to the democratic party? is this setting the stage as a potential run as governor as a democrat nunn could 2014. >> he was hugely helpful in electing president obama. it is a great victory for us. he is an incredibly capable victor. we do not take sides before we know that we have one single candidate. everyone knows he was a great governor. he led
the fiscal cliff. the house returned to business this week on tuesday at 2:00 p.m. eastern. they will be appointing members to work with the senate on defense programs. live coverage when the house returns here and c-span. the synod -- the senate returns on monday. they will also consider a nomination for assistant secretary of housing and development. live coverage when they return on c-span2. >> joining as and vermont is governor peter shumlin. thank you for being with us. >> it...
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Dec 29, 2012
12/12
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they talked about the need to reach a deal to avert the fiscal cliff. >> i've been working people of both parties with the help of business leaders and ordinary americans to come together around a plan to grow the economy. a plan that would protect the middle class, cut spending and ask the wealthiest americans to pay a little bit more. i will keep working with anyone who is serious about getting a comprehensive plan like this done. we are now just -- all tax rates are going up. a will get a lot smaller. it would hurt middle-class families and businesses that depend on your spending. congress can prevent it from happening. leaders are working on a way to prevent this tax hike on the middle class. if an agreement is reached i will urge the senate to hold an up or down vote to protect the middle class from the income- tax hike. it could pass both houses a bipartisan majority. but they still want to vote no, that is their prerogative. they shall let everybody else vote as well. we cannot afford a politically self-inflicted wound. the housing market is healing. the unemployment rate is t
they talked about the need to reach a deal to avert the fiscal cliff. >> i've been working people of both parties with the help of business leaders and ordinary americans to come together around a plan to grow the economy. a plan that would protect the middle class, cut spending and ask the wealthiest americans to pay a little bit more. i will keep working with anyone who is serious about getting a comprehensive plan like this done. we are now just -- all tax rates are going up. a will...
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Dec 11, 2012
12/12
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cliff the deal, getting closer to balancing the budget, which i think is still very important in the mindset of businesses and this government, that we learn to do that. but i do hope because of all the discussion that tax reform is something that is taken seriously for this year. i think it's well overdue. it's been posited as something that should be done now. it's obviously doesn't have time to do it before december 31. i think that there's a real opportunity to make a lot of the changes that we have talked with through -- about through tax reform. and it will give businesses a lot of the assurances they need that the government is paying attention. >> you should tell barack obama to find a jim baker, then. >> i have an idea for you. which is, this is -- if you think about each time we reached a crisis point of enormous proportions in our country, there's been an institutional response toe it. we had a number financial crises through the late 1800's early 1900's, we create add central bank. and that has proved to be enormously valuable in this past -- for the past five years. for
cliff the deal, getting closer to balancing the budget, which i think is still very important in the mindset of businesses and this government, that we learn to do that. but i do hope because of all the discussion that tax reform is something that is taken seriously for this year. i think it's well overdue. it's been posited as something that should be done now. it's obviously doesn't have time to do it before december 31. i think that there's a real opportunity to make a lot of the changes...
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Dec 4, 2012
12/12
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with the fiscal cliff dealing with the issue of social security and medicare. social security, no, not part of this problem. something we'll deal with perhaps in the next congress or even in the one beyond that because we do have time to deal with social security. medicare, for those who want to privatize medicare, end it as we know it with a voucher or premium support program, no, no how are we going to go there. for those who want to work on changing the way in which medicare operates, to get saving such as drug -- negotiating drug prices, dealing with fraud and abuse, the various payment systems that are in medicare, all of which can save money and to continue, continue the work of the affordable health care act in the way it has already brought the inflation rate from the 4% to 5% down to the 2%, 2.5% range, this is an extraordinary savings right here and that will be calculated in the years ahead. this will add up to tens -- frankly, this will add up to hundreds of billions of dollars in the reduction in the projected cost of medicare in the years ahead. s
with the fiscal cliff dealing with the issue of social security and medicare. social security, no, not part of this problem. something we'll deal with perhaps in the next congress or even in the one beyond that because we do have time to deal with social security. medicare, for those who want to privatize medicare, end it as we know it with a voucher or premium support program, no, no how are we going to go there. for those who want to work on changing the way in which medicare operates, to get...
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Dec 14, 2012
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nancy pelosi urged lawmakers to first work on a deal that would avert the fiscal cliff and follow up on tax reform and entitlements next year. congress and the white house have three weeks before a they are set to expire for most americans and mandatory domestic and defense cuts take effect. this is 15 minutes. >> good morning. thank you for being here. here we are, eighteen days from a possible fiscal cliff, hopefully not; twelve days until christmas; and here we are once again having a two-day work week in the congress of the united states. you have to ask the question: why are we going home instead of working very hard to forge an agreement to avoid that fiscal cliff? why are we not working very hard to pass legislation to address the needs posed by katrina? people out there are waiting to see if we can manage what we are doing. if we take christmas and engineer back in time, 'cause this is all about time, the most precious of all commodities because it can produce results, or not. if you take christmas and engineer it back from there, because that's a day, well, we won't be in se
nancy pelosi urged lawmakers to first work on a deal that would avert the fiscal cliff and follow up on tax reform and entitlements next year. congress and the white house have three weeks before a they are set to expire for most americans and mandatory domestic and defense cuts take effect. this is 15 minutes. >> good morning. thank you for being here. here we are, eighteen days from a possible fiscal cliff, hopefully not; twelve days until christmas; and here we are once again having a...
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Dec 6, 2012
12/12
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there are two ways to deal with that -- build another fiscal cliff to put on pressure, which puts us right back where we are, or have a default mechanism which has policy set aside that both sides do not like. one thing about the baseline -- under current law, if the congress packed its bags right now and went away, at the end of the 10-year period our debt to gdp ratio would be under 1%. he would definitely solve the deficit problem. >> under 1%? >> i believe. >> the percentage of your debt -- not the deficit to gdp? >> debt to gdp. now, we do not want to get there that way. the same way we do not want to go over the fiscal class. the fiscal cliff is big austerity -- you get $7 trillion in deficit reduction over 10 years. but you do not do it you really want to do it. when it comes to the baseline, you have to work together as part of an agreement to get to the right baseline. that does not mean it is not real world deficit-reduction. it is. does it mean it is better than current law? maybe not. but there is agreement that current law, including the fiscal cliff, is not the best way
there are two ways to deal with that -- build another fiscal cliff to put on pressure, which puts us right back where we are, or have a default mechanism which has policy set aside that both sides do not like. one thing about the baseline -- under current law, if the congress packed its bags right now and went away, at the end of the 10-year period our debt to gdp ratio would be under 1%. he would definitely solve the deficit problem. >> under 1%? >> i believe. >> the...
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Nov 27, 2012
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with entitlements. >> the congressional wisdom on a fiscal cliff deal does that include receive news and cuts. you made it clear how you feel on revenues. >> we have already done more than $1 billion worth of cuts, so we need to get credit for that in these negotiations that take place. >> senator durbin said he thinks that president obama won't include a deal [inaudible] >> first of all, the debt ceiling. we would be foolish to work out something on stopping this from going over the cliff and then a month or six months later the republicans pull the same game as they did before and say we aren't going to agree to increasing the debt ceiling. i agree with the president. it has to be a package deal. what was your other question? [inaudible question] >> there are things we have already taken care of, the first of april and take a look at that stuff. that's not essential. [inaudible question] >> we can't do anything with the disaster aid package and i'm told it will be tomorrow or the next day. [inaudible question] >> republican, ok. you said what's holding it up? i said republicans. ta
with entitlements. >> the congressional wisdom on a fiscal cliff deal does that include receive news and cuts. you made it clear how you feel on revenues. >> we have already done more than $1 billion worth of cuts, so we need to get credit for that in these negotiations that take place. >> senator durbin said he thinks that president obama won't include a deal [inaudible] >> first of all, the debt ceiling. we would be foolish to work out something on stopping this from...
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so, that is one of the many things in the fiscal cliff discussions that we also have to deal with. the social security payroll tax holiday that we have had for two years -- they have to decide whether to extend that by december 31, and there is also the issue of the alternative minimum tax, which is designed to make sure that everybody pays something in income tax, especially among the wealthy who might use deductions to bring their tax payments down to zero. the problem is the alternative minimum tax has been affecting more and more middle-class people, and the irs in particular is eager for congress to take a stand on patching up the minimum tax by december 31 because mostly they have to program their computers. host: the amt was part of our series on the different aspects of the fiscal cliff talks. you can go to our web site to find more details. today, the discussion is about domestic spending. if sequestration happens at the end of the month, and we are talking about $500 billion in domestic spending across the board, right, charles clark? guest: $500 billion over 10 years. $3
so, that is one of the many things in the fiscal cliff discussions that we also have to deal with. the social security payroll tax holiday that we have had for two years -- they have to decide whether to extend that by december 31, and there is also the issue of the alternative minimum tax, which is designed to make sure that everybody pays something in income tax, especially among the wealthy who might use deductions to bring their tax payments down to zero. the problem is the alternative...
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the president is address the fiscal cliff, we're dealing with the debt and deficit. this is not about getting through this next month, this is about trying to solve the issues that we face as a nation today and that is the debt and deficit that we face. the president is very fond of talk about the math. let me give you a few things dealing with the math. 2012 will be the third highest revenue receipt into the united states government ever in the history of our nation. the third highest revenue ever received in the hithsroif the united states is coming in in 2012. in this down economy, as paychecks are smaller, federal revenue continues to increase. the president is very focused on trying to get the clinton tax rates but he ignores the clinton level of spending. what we've got to address is a trillion dollar deficit here. if wrp back at the clinton level of spending this would solve the issue that we're dealing with today. so we've got to find a way to address the real driver and real issue that we're facing, that is the spending. until we address that, it's not going
the president is address the fiscal cliff, we're dealing with the debt and deficit. this is not about getting through this next month, this is about trying to solve the issues that we face as a nation today and that is the debt and deficit that we face. the president is very fond of talk about the math. let me give you a few things dealing with the math. 2012 will be the third highest revenue receipt into the united states government ever in the history of our nation. the third highest revenue...
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so that would erase any growth in the united states, the consequence of not dealing with the fiscal cliff and not dealing with the debt ceiling, which are both looming threats on the very short-term horizon. and it does not just a threat for the united states of america. it is a threat for the global economy given the size of the u.s. economy and its linkages with many other countries around the globe. so we all hope that, despite political challenges, which anywhere in the world entail a degree of uncertainty and unpredictability, there will soon be enough political courage and no political gains in order to actually focus on removing this uncertainty and making sure that both the issue cliff and the debt ceiling are dealt with immediately. so is the same for the bank of japan. they should give a clear indication of what is the plan to actually reducing debt going forward in order to at least create an environment where the implementation can be built on a safer basis. let me turn now to the challenges facing the rest of the world. each and every part of the world has to also deliver on
so that would erase any growth in the united states, the consequence of not dealing with the fiscal cliff and not dealing with the debt ceiling, which are both looming threats on the very short-term horizon. and it does not just a threat for the united states of america. it is a threat for the global economy given the size of the u.s. economy and its linkages with many other countries around the globe. so we all hope that, despite political challenges, which anywhere in the world entail a...
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on the fiscal cliff before christmas would be difficult. this is 10 minutes. >> speaker boehner said he'd waiting on president obecause mo -- obama to outline the spending cuts. that's a strange thing for the speaker to say. president obama outlined specific cuts in his proposal to the republicans. while republicans have not offered anything specific in cuts whatsoever, and of course nothing specific in revenue whatsoever. all generalizations. the republicans want more spending cuts, tell us what you want. that's what i say to them. we can't read their minds. we're not going to make the proposal for them. republicans know perfectly well that democrats are willing to make tough choices on these issues, if in fact they understand, which i hope they do by now, that we're going to look out for the middle class first. the only thing standing in the way of an agreement is republicans. their insistence on holding tax cuts for middle class families hostage to the fiscal cliff. there's a lot of bluster coming from republicans but that facade is crum
on the fiscal cliff before christmas would be difficult. this is 10 minutes. >> speaker boehner said he'd waiting on president obecause mo -- obama to outline the spending cuts. that's a strange thing for the speaker to say. president obama outlined specific cuts in his proposal to the republicans. while republicans have not offered anything specific in cuts whatsoever, and of course nothing specific in revenue whatsoever. all generalizations. the republicans want more spending cuts, tell...
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they do have the fiscal cliffs that they have to deal with, and there will be a calibration of who gets hurt the most if we allow the economy to go over the cliff. where do we blame? there is a lot of calculation going on right now at leadership levels in both houses, in both parties, with the white house heaving a huge sigh of relief that the poles were all right, but now we are stuck with this for four more years, and how do we deal with this? i don't think anybody knows how the lame-duck is really going to work, either then there will be a continuing resolution. will it be a kick the can down the road kind of resolution? the question is, how many things will be added to that frame as it is moving through. >> congressman gephardt, as senator bennett just laid out, this can get pretty messy. it could get ugly before it is resolved. doesn't that affect the leverage here for the president? does he really want to start his second term with an economy that is already fragile and at risk of going into another recession? >> lame-duck sessions are well named. they are always lame, and the use
they do have the fiscal cliffs that they have to deal with, and there will be a calibration of who gets hurt the most if we allow the economy to go over the cliff. where do we blame? there is a lot of calculation going on right now at leadership levels in both houses, in both parties, with the white house heaving a huge sigh of relief that the poles were all right, but now we are stuck with this for four more years, and how do we deal with this? i don't think anybody knows how the lame-duck is...